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The Dow Jones today traded over 100 points lower after China announced on Sunday that it plans to impose tariffs of up to 25% on 130 U.S. exports. According to the Chinese government, these tariffs are meant to act as a limited response to the Trump administration's recent steel tariffs that, according to a statement from the ministry, "produced severe damage to [China's] interests."
With economic uncertainty growing across the globe, many investors are looking for reliable industries in which to seek profit. Money Morning Executive Editor Bill Patalon recently sat down with Money Morning Global Energy Strategist Dr. Kent Moors to discuss the surprisingly large profit opportunities hiding in oil investment. Check out what they discovered here...
Here are the numbers from Thursday for the Dow, S&P 500, and Nasdaq:
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Tech Revolution: We're on the brink of a global energy overhaul, and one tiny company has the key to it all. If you want to find out how to position yourself for the biggest, most life-changing gains, you better strike now.
The Top Stock Market Stories for Monday
- Markets are again focusing on U.S. President Donald Trump and his protectionist policies. According to reports, Trump may tie U.S. border security to any new negotiations of the North American Free Trade Agreement (NAFTA). Trump has complained that Mexico is not doing enough to reduce the flow of illegal drugs and undocumented immigrants into the country.
- According to various reports, Wal-Mart Stores Inc. (NYSE: WMT) may soon make an offer for health insurance giant Humana Inc. (NYSE: HUM). The proposed deal is seen as an answer to Amazon's dive into the health benefits sectors, as well as the $69 billion merger between CVS Health Corp. (NYSE: CVS) and Aetna Inc. (NYSE: AET). This morning, HUM shares are up 7.1%, while WMT stock slipped 0.8%.
- In addition to the market reports on manufacturing and construction spending, we'll be listening to a speech from the outspoken president of the Minnesota Federal Reserve. Neel Kashkari will be speaking on the economy at the University of Minnesota student town hall in Duluth today.
Money Morning Insight of the Day
Last week, members of Congress passed an emergency $1.3 trillion bill to keep the lights on in Washington. Now, we're starting to find out what was in the 2,200 pages that many congressmen failed to read. After close reading these 2,200 pages, we discovered one little, key change in public policy that could provide a massive windfall to investors. As Money Morning Michael Robinson explains, this change will help turbocharge profits in the emerging marijuana industry. Learn how you can make a fortune on this unstoppable trend... right here.
Three Stocks to Watch Today: AMZN, TSLA, UAA
- Shares of Amazon.com Inc. (Nasdaq: AMZN) are trying to recover after last week's sell-off. Amazon stock slumped after President Trump said he plans to target the e-commerce giant over its tax practices. Trump argued last week that the U.S. Postal Service is experiencing a "tremendous loss" in money each year as employees deliver packages on behalf of Amazon.
- Moody's Investors Service downgraded Tesla Inc.'s (Nasdaq: TSLA) corporate debt rating from B2 to B3. That rating is below investment grade and will likely force the cost of borrowing higher for the company in the future. In other news, the firm recalled 123,000 Model S vehicles over issues with the power steering.
- Shares of Under Armour Inc. (NYSE: UAA) were off 3.3% after the company announced a massive data breach impacting 150 million customers. Although the firm said that credit card data was not breached, it said that personal information like e-mail addresses, passwords, and usernames stored through the MyFitnessPal were subject to theft.
- Look for earnings reports from Cal-Maines Foods Inc. (Nasdaq: CALM), Clear Channel Outdoor Holdings Inc. (NYSE: CCO), A10 Networks Inc. (Nasdaq: ATEN), Sky Solar Holdings Ltd. (Nasdaq: SKYS), and Westmoreland Coal Co. (NYSE: WLB).
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.